Levi shares soar as jeans retailer makes stock market return March 21, 2019 Shares in jeans retailer Levi Strauss soared more than 30 per cent as it returned to the stock market today, giving the company a market value of $8.7bn. The denim brand, which has described itself as “the inventor of blue jeans”, started trading on the New York Stock Exchange this morning after it was taken [...]
Luxury rental property platform The Plum Guide to use £14m fundraise for rapid expansion March 21, 2019 High-end property rental platform The Plum Guide, which aims to eliminate disappointment from holiday bookings, has raised £14m in a Series B funding round led by Talis Capital as it prepares to launch in six more cities. The Plum Guide, which was set up in London in 2015, will be available in Barcelona, Berlin, Copenhagen, [...]
Creditors approve Giraffe and Ed’s Easy Diner CVA March 21, 2019 The operator of Giraffe and Ed’s Easy Diner has been given the green light for store closures today, as creditors voted through a major restructuring plan that puts hundreds of jobs at risk. Giraffe Concepts Limited, which gained the 75 per cent approval it needed from creditors in a vote this afternoon, is now set to [...]
UK retail sales grow as consumers shrug off Brexit worries March 21, 2019 British retail sales showed strong growth last month compared to a year before, in a sign that consumers remain unaffected by the Brexit impasse. The quantity of goods UK shoppers bought increased by 0.4 per cent in February compared to January, with strong growth in non-store retailing and fuel, figures released today by the Office [...]
Sports Direct reissues its demand for Mike Ashley to be given a top job at Debenhams March 21, 2019 Sports Direct has today requested a general meeting of Debenhams to eject the board and give Mike Ashley an executive role at the struggling retailer. The requisition replaces an earlier demand which was invalid because Sports Direct was holdings its shares at that period through a third party nominee. Read more: Debenhams pressure mounts amid [...]
Game plays with higher profits to buck high street worries March 21, 2019 Profits soared at video game retailer Game’s parent company in the first six months of the financial year, even as revenue fell by nearly five per cent. The figures Game Digital’s profits before tax increased over 20 per cent to £14.8m, however gross profit contracted 1.2 per cent to £122m. Read more: Game shares boosted [...]
Next sees ‘no evidence’ for Brexit hurting sales despite profit dip as it warns of ‘challenging’ 2019 March 21, 2019 Profits slipped at Next last year, the high street stalwart said today as it warned the outlook for the high street will remain “challenging” in 2019. However, it said Brexit is not a factor, with boss Lord Simon Wolfson saying there is “no evidence that this uncertainty is affecting consumer behaviour”. Read more: Next shares [...]
Profits plunge 26 per cent at Ted Baker after ‘difficult’ year March 21, 2019 Profits fell at Ted Baker last year for the first time since the financial crisis as the company faced “very difficult trading conditions” in a year when harassment claims dogged its chief executive. The figures Profits before tax at the menswear retailer dropped by 26 per cent to £51m even as revenue increased 4.4 per [...]
Starbucks delivery expands across central London while company continues green push March 20, 2019 Coffee drinkers across central London will be able to get their daily caffeine fix delivered straight to the office as Starbucks expands its delivery trials and starts tests of new greener cups in the capital, the company announced today. The coffee chain trialled Starbucks Delivers, its collaboration with Uber Eats, in parts of London last [...]
Superdry co-founder Julian Dunkerton ‘disappointed’ after shareholder advisory opposes motion to rejoin the board March 20, 2019 Superdry co-founder and former chief executive Julian Dunkerton said he was "disappointed" after an influential shareholder advisory firm recommended that investors block his reinstatement to the board. Last night it emerged that Institutional Shareholder Services (ISS) had warned investors that Dunkerton was partly to blame for the issues facing the struggling brand. Read more: Shareholder adviser opposes [...]